Intermediate terms

Essential Lease & Landlord Terms

This curated collection includes key terms that might be helpful when exploring lease agreements and landlord responsibilities. It covers the legal contract governing landlord-tenant relationships and the core duties of property ownership. These terms were selected based on common questions and areas where investors often need clarity.

Learning Path

Late Fees

Late fees are additional charges applied when a payment, such as rent or a mortgage, is not made by its due date, as outlined in a contract or lease agreement.

Beginner2-3 min

Fair Housing Act

The Fair Housing Act is a federal law prohibiting discrimination in the sale, rental, and financing of housing based on race, color, religion, sex, national origin, familial status, and disability.

Intermediate12-13 min

Habitability

Habitability refers to the legal standard that a rental property must be safe, sanitary, and fit for human living, ensuring basic living conditions for tenants. It is enforced through the Implied Warranty of Habitability, obligating landlords to maintain essential services and structural integrity.

Intermediate13 min

Lease Renewal

Lease renewal is the process where a landlord and tenant agree to extend an existing lease agreement beyond its original term, often involving new terms like rent adjustments.

Intermediate13-14 min

Rent Control

Rent control refers to government-imposed limits on the amount landlords can charge for rent and the rate at which rents can be increased, typically enacted to promote housing affordability.

Intermediate13-14 min

Property Maintenance

Property maintenance involves the ongoing care, repair, and upkeep of real estate assets to preserve their value, functionality, and safety, ensuring long-term profitability and tenant satisfaction for investors.

Intermediate14-15 min

Tenant Screening

Tenant screening is the process landlords use to evaluate potential renters, assessing their reliability, financial stability, and past rental behavior to minimize risks and ensure a good fit for the property.

Beginner15-18 min

Landlord Entry Rights

Landlord entry rights define the legal conditions under which a property owner can access a rented unit, balancing their maintenance needs with a tenant's right to privacy and quiet enjoyment, typically requiring advance notice.

Intermediate5 min

Security Deposit Laws

Security deposit laws are state and local regulations that dictate how landlords must collect, hold, and return security deposits, including limits, allowable deductions, and return timelines, to ensure fair practices in rental agreements.

Intermediate5-6 min

Notice to Vacate

A formal written statement from a landlord to a tenant, or vice versa, indicating the intention to terminate a lease agreement and vacate the property by a specific date, adhering to legal requirements.

Beginner15-18 min

Security Deposit

A security deposit is a refundable sum of money collected by a landlord from a tenant at the start of a lease to cover potential damages, unpaid rent, or other lease violations.

Beginner13-14 min

Subleasing

Subleasing occurs when a tenant leases out all or part of their rented property to another tenant, known as a subtenant, while still remaining responsible to the original landlord under the primary lease agreement.

Intermediate5 min

Lease Clause

A lease clause is a specific provision within a lease agreement that outlines the rights, responsibilities, and obligations of both the landlord and the tenant, ensuring clear expectations and legal protection.

Beginner2-3 min

Lease Assignment

Lease assignment is the legal transfer of an existing tenant's entire interest and obligations in a lease agreement to a new tenant for the remainder of the lease term.

Intermediate5-6 min

Lease Term

The lease term is the specific duration or length of time, defined in a lease agreement, for which a tenant agrees to rent a property from a landlord.

Beginner14-15 min

Lease Agreement

A legally binding contract between a landlord and a tenant that outlines the terms and conditions of renting a property, including rent, duration, and responsibilities.

Beginner18-20 min

Property Management

Property management is the professional oversight and operation of real estate, typically rental properties, on behalf of an owner, handling tasks from tenant acquisition to maintenance and financial reporting.

Beginner11-12 min